IsDB raises $2bn with largest ever Sukuk
The Islamic Development Bank (IsDB) has priced its largest ever Sukuk issuance, raising $2 billion in five-year Trust Certificates under its $25 billion Trust Certificate Issuance Programme.
IsDB partnered with leading managers and joint bookrunners including Citi, Dubai Islamic Bank, HSBC, Landesbank Baden-Württemberg, Natixis, Standard Chartered Bank and the Islamic Corporation for the Development of the Private Sector.
The deal was eventually priced at mid swap plus 40bps, which resulted in an overall lower profit rate compared to IsDB’s October 2019 issuance which had a profit rate of 1.957%.